The Commissioner of Income Tax III, V. M/s. Victory Projects Limited,

ITTA/605/2006

AI Insights

The case involves an appeal by the Commissioner of Income Tax, Hyderabad against M/s. Victory Projects Limited concerning an order passed by the Income Tax Appellate Tribunal, Hyderabad. The appeal was related to the assessment year 1996-97 and challenged the decision made by the Deputy Commissioner of Income Tax, Circle-4(6), Hyderabad. The primary legal issue was whether the appeal should be admitted based on the tax effect, which was found to be below the monetary threshold set by the recent circulars aimed at reducing litigation. The court's decision to dismiss the appeal was influenced by the monetary limits prescribed for departmental appeals, which were intended to minimize unnecessary litigation in tax matters.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 720160 (HC-TELANGANA)
• Appeal Type: Others
• Pronouncement Date: 02-08-2023
• Assessment Year: misc
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: P MURALIKRISHNA
• Assessee Lawyers: J V PRASAD
• Keywords: Appeal; Assessment Year 1996-97; Income Tax; Litigation reduction; Monetary limits
• Section: 260A

Judgement Text

"[ 3386 ] IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD WEDNESDAY, THE SECOND DAY OF AUGUST TWO THOUSAND AND TWENTY THREE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE A. LAXMI NARAYANA INCOME TAX TRIBUNAL APPEAL No: 605 OF 2006 lncome Tax Tribunal Appeal Under Section 2604 of the lncome Tax Act, 1961 arising out of the order of the lncome-tax Appellate Tribunal, Hyderabad Bench 'A ' Hyderabad, in ITA No.284lHydl2O01 , for assessment Year 1996-97 datd 21-12- 2005 preferred against the Order of the Commissioner of lncome Tax , Andhra Pradesh-1, Hyderabad, Appeal No. H.Qrs.l/50(22)/2000-200'l,dated:20-03-2001, preferred against the Order of the Deputy Commissioner of lncome Tax Circle-4(6), Hyderabad PAN/GIR No.V-12'1l 96-97 dated. 26-03-1999. Between: The Commissioner of lncome Tax lll,, Hyderabad ...Appellant AND M/s. Victory Projects Limited, 6-3-626, 6th floor, Parameshwar Apartments, Anandhnagar, Hyderabad. ...Respondent Counsel for the Appellant: SRI J.V. PRASAD for SRI B. NARASIMHA SHARMA Counsel for the Respondent: SRI P. MURALI KRISHNA The Court delivered the following: JUDGMENT HE HON'BLE SRI JUSTICE P.SAI [ KOSH'T AND THI HON'BLE SRI JUSTICE A. LAXM) NAR,IT'ANA I.T.T.A. No. 6O5 of 2O06 JUDGMENT:6,et lot'ble Si JrLsttce P.SAM KOS,HY) Hear-d Sri l.V. Prasad, learned Senior Standirrg Cr,r n ;el rppezrring for the appcllanr 2. Thrs appr rl under Section 26OA o[ the Income It:: Act, 196 I. has bcen prefr.rred b'r the Rt:venuc as the appcllant z f1, iltst thc ordcr dt.21.12.2t)05 p s;ed by tLLe Incorne Tax Appcllate Tri:r nal, IJl,ilerabad Bcrrch A', H1'rle rbacl, in 1.l'.A.No 2SalHydl2OOt fcr rlr.e . ssessmenr Year 1996 97 . 3. Ccntral B 20 19 clt.08.08.- dr. t 1.07.20 1U. I by t he Incornr: T High Courts anr pamgraph :2 o[ t filing an aplteal L ald of Direct Taxe s (CBDT) has ir;suerl (. rcu lar No. 1 7 of 1.9, amending the previous Circular. No.3 of 2018 urthcr enharcing lhe monetarv [imits Ior I iir-rg altpeals x D(lpartmont before the Incomc l'ax rr.; pr'llarc Trrbunals, Supreme Court as a measure [o' rt: